TSMC To Set Up Subsidiary With $3.5 Billion Paid-Up Capital In Arizona: Report

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  • The investment is part of the plan that TSMC announced in May to build a $12 billion factory in Arizona
  • The company said that constructing the Arizona facility would start in 2021 with production targeted to begin in 2024
Image Source – Taiwan Semiconductor Manufacturing Company

As per a report by Reuters, Taiwan Semiconductor Manufacturing Co Ltd said that its board had approved an investment to set up a wholly-owned subsidiary in Arizona with a paid-in capital of $3.5 billion. It added that the investment is part of the plan that TSMC announced in May to build a $12 billion factory in Arizona.

TSMC manufactures the bulk of its chips in Taiwan and has older chip facilities in China and Washington. As per the report, the company said that constructing the Arizona facility would start in 2021 with production targeted to begin in 2024 and that it would be able to process up to 20,000 silicon wafers per month.

Revenues for October 2020 were approximately NT$119.30 billion

Just a day back, TSMC has announced its net revenues for October 2020. On a consolidated basis, TSMC revenues for October 2020 were approximately NT$119.30 billion. This represents a decrease of 6.5 per cent from September 2020 and an increase of 12.5 per cent from October 2019. Revenues for January through October 2020 totalled NT$1,097.02 billion, an increase of 27.7 per cent compared to the same period in 2019.

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